MSFT Options History — July 2015

In July 2015, MSFT traded between $44.25 and $47.17. ATM implied volatility averaged 23.3%, placing in the 67.2% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 6.8% (HV 20d: 16.6%). Max pain ranged from $45.00 to $46.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.76.

Notable Days

  • 2015-07-21: Highest Volume — 340,105 contracts
  • 2015-07-22: Largest IV drop — 30.5% change
  • 2015-07-08: Highest IV Rank — 98.7%
  • 2015-07-21: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.63$44.25$47.17$44.44$46.74
Max Pain$45.41$45.00$46.00$45.00$46.00
ATM IV23.3%18.0%28.0%25.3%18.0%
Expected Move6.4%5.3%7.9%5.6%5.3%
HV 20d16.6%12.9%20.8%15.8%20.8%
HV 60d23.6%17.5%27.4%27.3%18.1%
IV Rank67.2%30.7%98.7%80.4%30.7%
IV Percentile77.1%36.5%99.6%95.2%36.5%
Term Structure-0.8%-2.0%0.3%-0.7%-0.1%
VWIV22.5%18.2%26.7%19.2%18.2%
Skew 25d2.5%1.5%3.4%2.5%1.9%
Skew 10d4.8%2.7%6.8%4.7%3.0%
Call IV 25d22.3%16.9%27.0%24.7%16.9%
Put IV 25d24.8%18.8%30.4%27.1%18.8%
Bid-Ask Spread %9.994.9218.0512.1313.94
Gamma HHI0.100.090.150.090.12
Net GEX48.1M20.3M98.8M23.9M76.5M
Net DEX-675.0M-1.37B-75.8M-104.5M-1.15B
Net VEX-13.9M-14.2M-13.3M-14.0M-14.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.421.770.790.53
Total Volume108,11543,774340,10587,16076,076
Total OI2,006,931.6361,717,6402,107,9731,984,5892,082,530

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-07-01$44.44$45.0025.3%5.6%15.8%80.4%19.2%2.5%-0.7%23.9M-104.5M-14.0M0.7912.13N/AN/A48,73438,4261,080,981903,608
2015-07-02$44.44$45.0025.6%5.6%15.5%82.5%20.0%2.6%-0.8%25.3M-113.6M-14.0M0.7513.26N/AN/A50,06337,6151,091,839906,187
2015-07-06$44.37$46.0026.3%7.2%15.5%87.2%25.4%3.0%-1.0%26.4M-146.1M-13.9M1.126.94N/AN/A20,61823,1561,088,667894,944
2015-07-07$44.25$46.0026.7%7.3%15.3%90.0%24.4%2.8%-1.0%23.4M-75.8M-13.8M0.499.40N/AN/A71,31234,7161,093,034900,037
2015-07-08$44.33$45.0028.0%7.7%15.3%98.7%25.9%3.4%-1.5%27.5M-193.1M-14.2M0.8210.05N/AN/A47,67939,1721,111,355906,115
2015-07-09$44.63$45.0027.8%7.5%12.9%97.4%26.3%3.2%-1.3%38.3M-304.7M-14.1M0.726.80N/AN/A35,28225,3271,120,611914,308
2015-07-10$44.70$45.0027.2%7.2%13.0%93.1%25.9%3.4%-1.2%35.6M-300.9M-13.9M0.616.96N/AN/A32,44519,8611,127,275922,482
2015-07-13$45.59$45.0025.4%7.0%14.8%81.1%24.4%2.3%-0.9%55.9M-716.5M-14.0M0.676.75N/AN/A37,83725,4641,115,406915,320
2015-07-14$45.65$45.0024.2%6.8%14.2%72.9%23.5%3.0%-0.4%59.9M-802.0M-13.3M0.574.92N/AN/A35,68220,2921,125,543916,293
2015-07-15$45.74$45.0024.3%6.7%14.0%73.3%23.7%2.7%-0.9%68.4M-874.2M-13.3M0.497.65N/AN/A32,13015,5861,134,920922,127
2015-07-16$46.67$45.0022.8%6.4%15.7%63.4%22.5%2.7%-1.1%98.8M-1.37B-13.7M0.606.91N/AN/A46,36727,7991,147,567923,441
2015-07-17$46.60$45.0025.0%7.0%14.6%78.6%24.6%2.7%-1.7%74.5M-1.31B-13.6M0.795.90N/AN/A61,07648,1911,137,375930,190
2015-07-20$46.91$45.0026.1%7.4%14.0%86.0%26.0%2.8%-1.5%64.3M-1.20B-13.6M0.558.99N/AN/A93,96051,885941,806775,834
2015-07-21$47.17$45.0027.5%7.9%14.1%95.4%26.7%2.6%-2.0%69.6M-1.31B-14.0M0.509.48N/AN/A226,651113,454982,598796,538
2015-07-22$45.46$45.0019.1%5.5%19.3%38.7%19.3%1.5%-0.5%36.6M-482.3M-13.4M1.5118.05N/AN/A117,428177,8731,114,477837,406
2015-07-23$46.07$46.0018.8%5.4%19.8%36.7%20.0%1.6%-0.7%31.4M-690.4M-14.2M0.8010.46N/AN/A78,06162,1481,134,201938,213
2015-07-24$45.99$46.0019.4%5.6%19.8%40.7%20.5%1.6%-0.2%28.2M-735.7M-14.1M1.7712.34N/AN/A42,82675,6981,164,796943,177
2015-07-27$45.31$46.0020.5%6.1%20.2%47.7%21.3%2.5%-0.3%20.3M-356.0M-13.8M0.6914.01N/AN/A43,96830,2241,085,832906,522
2015-07-28$45.37$46.0019.3%5.9%18.9%39.8%20.1%2.5%0.3%22.7M-389.1M-13.6M1.0811.08N/AN/A45,46549,0441,097,423914,003
2015-07-29$46.35$46.0018.4%5.4%20.2%33.7%19.1%1.9%-0.0%61.9M-914.7M-14.2M0.4711.92N/AN/A63,52530,0551,117,681924,123
2015-07-30$47.01$46.0018.0%5.3%20.6%30.8%18.9%2.1%-0.2%88.7M-1.31B-14.1M0.4211.86N/AN/A88,35237,0071,133,627932,084
2015-07-31$46.74$46.0018.0%5.3%20.8%30.7%18.2%1.9%-0.1%76.5M-1.15B-14.0M0.5313.94N/AN/A49,67626,4001,148,616933,914